Growth
in number of hydrocephalic patients across the globe majorly drives growth of
the hydrocephalus shunts market. For instance, according to the National
Institute of Neurological Disorders and Stroke, in 2020, 1 to 2 of every 1000
babies are born with hydrocephalus, globally. Thus, considering the total
number of newborns per year, prevalence of hydrocephalus is all set to increase
in the future. Furthermore, rise in cases of neurological disorders, owing to
congenital abnormalities and lifestyle diseases as well as a rise in incidences
of brain and nerve injuries boosts the demand for hydrocephalic shunts. In
addition, use of advanced programmable valves help neurosurgeons to externally
adjust valve pressure used in shunts during the treatment.
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On the contrary, advancements in shunt technology for
reducing shunt complications are projected to create lucrative opportunities
for the hydrocephalus shunts market growth. The global hydrocephalus shunts
market is segmented on the basis of type, age group, and region.
COVID-19
Impact
The COVID-19 pandemic has resulted in nationwide
lockdowns, which has impacted every industry vertical. Likewise, the
hydrocephalus shunts market is also affected by the pandemic. The hydrocephalus
shunts industry is currently facing newer challenges to cope up with demand and
supply of hydrocephalus shunts, owing to the COVID-19. In addition,
inconsistent and interrupted supply chain activities and unavailability of
human resources are expected to impact the market growth. The sudden onset of
pandemic led to shutdown of neurological wards and clinics across numerous
countries. At the same time, hospitals ran out of resources, owing to huge
number of COVID-19 patients. Therefore, most neurosurgeons were reassigned to
COVID-19 wards, which worsened disparities in access for neurosurgical
treatments to treat hydrocephalic patients.
The key market players profiled in
the report include Christoph Miethke GmbH & Co. KG, G. Surgiwear Ltd., HLL
Lifecare Limited, HpBio Próteses, Inc., Integra Life Sciences, Kaneka Medix
Corporation, Medtronic plc, Natus Medical Incorporated, Spiegelberg GmbH &
CO. KG, and Tokibo Co., Ltd.
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